Avery Dennison (AVY) Beats On Q4 Earnings, Issues 2018 View
Zacks Investment Research | Jan 31, 2018 04:25AM ET
Avery Dennison Corp. (NYSE:AVY) reported adjusted earnings of $1.33 per share in fourth-quarter 2017, up 34% from 99 cents recorded in the year-ago quarter. Earnings also beat the Zacks Consensus Estimate of $1.25.
Including restructuring costs, the company recorded a loss of 66 cents per share in the quarter as against earnings of 69 cents recorded in the prior-year quarter.
Total revenues jumped around 11.9% to $1.74 billion from $1.55 billion recorded in the year-earlier quarter, driven by contributions from acquisitions and organic growth. Moreover, the figure surpassed the Zacks Consensus Estimate of $1.70 billion. On an organic basis, sales were up nearly 4.7% year over year.
Avery Dennison Corporation Price, Consensus and EPS Surprise
industry with respect to price performance. The stock has rallied 47.3%, while the industry recorded growth of 38.9% during the same time frame.
Zacks Rank & Key Picks
Avery Dennison currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the same sector include Applied Industrial Technologies, Inc. (NYSE:AIT) , H&E Equipment Services, Inc. (NASDAQ:HEES) and Disco Corp. (OTC:DSCSY) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see Zacks Investment Research
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